58 Urgent designation of persons by name
Economic Crime (Transparency and Enforcement) Act 2022 (2022 c 10) | Legislation

Designation

58  Urgent designation of persons by name

(1)     Section 11 of the 2018 Act (designation of a person by name under a designation power) is amended in accordance with subsections (2) to (6).

(2)     After subsection (1) insert—

“(1A)     The regulations must contain provision for the Minister to be able to choose whether to designate a person under—

(a)     the standard procedure, or

(b)     the urgent procedure.”

(3)     For subsection (2) substitute—

“(2)     The regulations must provide that under the standard procedure the Minister is prohibited from designating a person by name except where condition A is met.

(2A)     Condition A is that the Minister has reasonable grounds to suspect that that person is an involved person (see subsection (3)).

(2B)     The regulations must provide that under the urgent procedure—

(a)     the Minister may designate a person by name where condition A is not met, but conditions B and C are met, and

(b)     the designation ceases to have effect

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